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Background of Etude House

In: Business and Management

Submitted By toottoot49
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Background of Etude House:

Etude House is a popular cosmetics brand originated from South Korea owned by a chemical and cosmetics company Amorepacific Corporation. The name ETUDE was inspired by a famous Polish composer Frederic Chopin's studies for the piano from the early 1800's.

The company was founded in the year 1966 and the corporate name was changed to Oscar Corporation in 1985. During 1990, Amore Pacific Group incorporated the company and have decided to change the company's name to Etude Corporation in 1997. Etude House is one of the main cosmetics retailer in South Korea and the first Etude House retail store was opened in Seoul during 2005 and is growing rapidly ever since then. In the year 2009, Etude House launched stores in several countries including Malaysia, Taiwan, Singapore and more. It now has around 9 retail stores all spread across Kuala Lumpur and Selangor in Malaysia and has grown into a famous cosmetics retailer for the ladies here.

Environmental forces affecting the retail store:

Environmental forces are the uncontrollable forces that will affect the survival, operations, growth of an organization and the results of a marketing decision. There are several forces that will affect the business of the retail store Etude House.

The first force is the technological forces. Advanced technology often creates new products based on innovation and creativity and it has the potential to change the ways of operating a business. The advancement of technology allows Etude House to operate their business more conveniently and perfectly. They allow debit-card and credit-card payment to ease the customers and their stores location can be found conviniently with the help of Internet.

The second force is the social forces. Etude House will always observe the buying patterns and the interests of their customers in order to develop new...

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